The Haas Financial Aid Office will determine and award all LRAP grants. The Program will award eligible participants a grant on a semi-annual basis up to the participant’s required minimum monthly payments on eligible loans during the preceding six-month period. Grants will only be awarded for the months that payments were made while in qualifying employment. (Please note that payments are not required during the grace period of loans which is typically six months following graduation). Students not enrolled in a standard repayment plan of ten years or more are encouraged to apply, as we may be able to provide prorated assistance depending on fund availability.
Alumni are eligible to participate at any point while in loan repayment status.
Expect up to 6 weeks for reimbursement from campus.
The Haas LRAP provides 100% reimbursement of minimum monthly payments for graduates with a modified gross income of up to, and including, $95,000, per the calculation below. Those with higher incomes are encouraged to apply, as we may be able to provide prorated assistance depending on fund availability.
|Applicant’s gross wages*|
|+ Other income (business, rental real estate, etc.)|
|+ Housing allowances from employer|
|– $6,000 / dependent child|
|= Applicant’s modified gross income|
*A married participant’s eligible income will be analyzed in two ways. First, it will be calculated based on half of the joint income of the couple and then based on the participant’s own income. The greater of the two calculations will be used to determine eligibility.
Next: Application Procedure